Max Co., Ltd. logo

Max Co., Ltd.

6454.T

JPXIndustrialsIndustrial - Machinery

Latest quote

¥1,782

+¥5.00 · +0.28%

Aug 24, 3:30 PM JST

6454.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Max Co., Ltd., along with its subsidiaries, functions as a global manufacturer and distributor of a diverse range of industrial and office machinery. The company's extensive industrial equipment catalog includes construction tools like nailers, tackers, air compressors, and laser markers, alongside various power tools such as hammer drills and rechargeable impact drivers. This sector also covers agricultural equipment like vegetable and bag binding machines, and building systems including bathroom heating ventilation dryers, floor heating solutions, and residential fire alarms. For office environments, Max provides a wide array of products, such as automatic and paper needle staplers, plastic ring bookbinding machines, numbering machines, hole punches, time recorders, label printers, cutting machines, and specialized drafting instruments like parallel rulers. Additionally, the company manufactures HCR (Health Care & Rehabilitation) equipment, including wheelchairs and other assistive devices, and participates in storage and transportation activities. Established in Tokyo, Japan, in 1942, the company initially operated under the name Max Industry Co., Ltd., adopting its current identity, Max Co., Ltd., in 1964.

Industry
Industrial - Machinery
Sector
Industrials
Headquarters
JP
CEO
Tatsushi Ogawa
Listed since
Jan 1, 2001
Employees
2,470

Market position

Day range

Current ¥1,782

52-week range

Current ¥1,782

Open
¥1,777
Previous close
¥1,777
Volume
252.5K
0.97× average
Average volume
260.09K
Average daily volume
Market cap
320.39B JPY
Beta
0.6
Market reference 1
50-day average
¥1,743.86
+2.19% above average
200-day average
¥1,697.22
+5.00% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
252.52B JPY
P/E (TTM)
21.97×
P/B (TTM)
2.83×
P/S (TTM)
3.09×
EV / EBITDA
11.48×
Earnings yield
4.77%
Free cash flow yield
4.04%
Dividend yield
2.08%

Profitability & efficiency

Gross margin
48.23%
Operating margin
17.79%
Net margin
14.10%
Return on equity
12.05%
Return on assets
10.07%
Return on invested capital
10.68%

Financial health

Debt / equity
0.01×
Current ratio
4.76×
Altman Z-score
10.5
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends52%36%20%4%Gross margin, FY2021: 41.07%Gross margin, FY2022: 41.52%Gross margin, FY2023: 44.61%Gross margin, FY2024: 46.40%Gross margin, FY2025: 47.96%Operating margin, FY2021: 10.13%Operating margin, FY2022: 11.77%Operating margin, FY2023: 14.54%Operating margin, FY2024: 15.75%Operating margin, FY2025: 17.54%Net margin, FY2021: 8.23%Net margin, FY2022: 9.04%Net margin, FY2023: 12.05%Net margin, FY2024: 12.22%Net margin, FY2025: 13.95%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 41.07%. Gross margin FY2022 41.52%. Gross margin FY2023 44.61%. Gross margin FY2024 46.40%. Gross margin FY2025 47.96%. Operating margin FY2021 10.13%. Operating margin FY2022 11.77%. Operating margin FY2023 14.54%. Operating margin FY2024 15.75%. Operating margin FY2025 17.54%. Net margin FY2021 8.23%. Net margin FY2022 9.04%. Net margin FY2023 12.05%. Net margin FY2024 12.22%. Net margin FY2025 13.95%.

Income trends

Revenue

99.61B JPY+8.46%

Operating income

17.47B JPY+20.73%

Net income

13.89B JPY+23.75%
Income trends across reported periods108.96B JPY71.55B JPY34.15B JPY−3.26B JPYRevenue, FY2021: 73.96B JPYRevenue, FY2022: 84.32B JPYRevenue, FY2023: 86.64B JPYRevenue, FY2024: 91.84B JPYRevenue, FY2025: 99.61B JPYOperating income, FY2021: 7.5B JPYOperating income, FY2022: 9.92B JPYOperating income, FY2023: 12.6B JPYOperating income, FY2024: 14.47B JPYOperating income, FY2025: 17.47B JPYNet income, FY2021: 6.09B JPYNet income, FY2022: 7.62B JPYNet income, FY2023: 10.44B JPYNet income, FY2024: 11.23B JPYNet income, FY2025: 13.89B JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 73.96B JPY. Revenue FY2022 84.32B JPY. Revenue FY2023 86.64B JPY. Revenue FY2024 91.84B JPY. Revenue FY2025 99.61B JPY. Operating income FY2021 7.5B JPY. Operating income FY2022 9.92B JPY. Operating income FY2023 12.6B JPY. Operating income FY2024 14.47B JPY. Operating income FY2025 17.47B JPY. Net income FY2021 6.09B JPY. Net income FY2022 7.62B JPY. Net income FY2023 10.44B JPY. Net income FY2024 11.23B JPY. Net income FY2025 13.89B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue99.61B JPY91.84B JPY86.64B JPY84.32B JPY73.96B JPY
Cost of goods sold51.83B JPY49.23B JPY47.99B JPY49.31B JPY43.58B JPY
Gross profit47.78B JPY42.61B JPY38.65B JPY35.01B JPY30.38B JPY
Research and development4.37B JPY4.35B JPY3.79B JPY3.4B JPY
Selling, general, and administrative29.85B JPY23.47B JPY21.65B JPY21.28B JPY19.38B JPY
Operating expenses30.31B JPY28.14B JPY26.05B JPY25.09B JPY22.88B JPY
Interest income419M JPY299M JPY192M JPY80M JPY68M JPY
Interest expense25M JPY25M JPY35M JPY41M JPY57M JPY
Depreciation and amortization3.42B JPY3.31B JPY3.05B JPY3.02B JPY2.81B JPY
Operating income17.47B JPY14.47B JPY12.6B JPY9.92B JPY7.5B JPY
Net income13.89B JPY11.23B JPY10.44B JPY7.62B JPY6.09B JPY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
24.14

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates48.1335.3522.569.78Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Oct 31, 2024: actual 45.42, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Jan 31, 2025: actual 19.65, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Apr 30, 2025: actual 11.5, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Jul 31, 2025: actual 19.57, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Oct 31, 2025: actual 20.27, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Jan 30, 2026: actual 20.06, estimate —, surprise —, Comparison unavailable. Q2 2026, reported Apr 30, 2026: actual 16.66, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Jul 30, 2026: actual 24.14, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates29.47B26.88B24.29B21.7BQ1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Jan 31, 2025: actual 24.13B JPY, estimate 23.05B JPY, surprise +4.68%, Beat. Q2 2025, reported Apr 30, 2025: actual 22.83B JPY, estimate 22.89B JPY, surprise -0.28%, Miss. Q3 2025, reported Jul 31, 2025: actual 24.24B JPY, estimate 23.07B JPY, surprise +5.07%, Beat. Q4 2025, reported Oct 31, 2025: actual 24.45B JPY, estimate 23.41B JPY, surprise +4.43%, Beat. Q1 2026, reported Jan 30, 2026: actual 25.64B JPY, estimate 25.47B JPY, surprise +0.65%, Beat. Q2 2026, reported Apr 30, 2026: actual 25.28B JPY, estimate 25.38B JPY, surprise -0.37%, Miss. Q3 2026, reported Jul 30, 2026: actual 28.33B JPY, estimate 25.6B JPY, surprise +10.68%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 26.6B JPY, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

¥28.50

2025 complete year+137.5% since 2021

2026 partial: ¥37.00

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Mar 31, 2027

¥40.00

Annual

Record Mar 31, 2027 · Payment Mar 31, 2027

Dividend

Ex-dividend Mar 30, 2026

¥148

Annual

Record Mar 31, 2026 · Payment Jun 30, 2026

Dividend

Ex-dividend Mar 28, 2025

¥114

Annual

Record Mar 31, 2025 · Payment Jun 25, 2025

Dividend

Ex-dividend Mar 28, 2024

¥101

Annual

Record Mar 31, 2024 · Payment Jun 27, 2024

Dividend

Ex-dividend Mar 30, 2023

¥78.00

Annual

Record Mar 31, 2023 · Payment Jun 29, 2023

Dividend

Ex-dividend Mar 30, 2022

¥64.00

Annual

Record Mar 31, 2022 · Payment Jun 30, 2022

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